Polyphor AG, a clinical stage, privately held Swiss specialty pharma company, has entered into an exclusive, global license agreement with Santhera Pharmaceuticals to further develop and commercialize the inhaled neutrophil elastase inhibitor, POL6014, in Cystic Fibrosis (CF) and other neutrophilic lung diseases. Under the terms of the agreement, Polyphor will receive an upfront payment of CHF 6.5 m paid in the form of Santhera shares and could receive up to an additional CHF 121 m in potential development, regulatory and sales milestones for the initial indication, as well as tiered double-digit royalties on sales. Santhera will have the exclusive worldwide rights to develop and commercialize POL6014, and assume full responsibility for its development within agreed timelines.

VISCHER advised Polyphor AG in the negotiations. The VISCHER team includes Christian Wyss (partner, corporate), Dr. Matthias Staehelin (partner, corporate) and Sebastian Flückiger (associate, corporate).